Confluent price target raised to $34 from $27 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Confluent to $34 from $27 and keeps an Overweight rating on the shares. After a “disappointing” Q3, the firm found Q4 results “encouraging,” says the analyst, who views Q1 guidance being raised and a reiteration of 22% revenue growth expected for FY24 as “a clearing event to push shares higher.”